and has it paid off pretty well? how much money have u had deducted each month?
2007-02-13 07:30:47 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
I just retired an I started early and saved more than you would think possible. If your employer has a 401K plan that adds a % to any money you put in..Put in all you can. If they do not add to what you put in..don't put any in that account but open an IRA at Vanguard of Fidelity and put in the max allowed amount. Then if you still have some cash put it in the company plan..At Vanguard invest in the S&P 500 or Total Stock market fund and forget it, just keep putting more in. Don't stop if the market is doing poorly..keep putting in and don't jump around. Stay away from Annuities of any kind and Insurance men selling retirement plans and stay from full commision stock brokers. Would you like to be millionaire when you retire? It's that easy.
2007-02-13 07:48:25 · answer #1 · answered by gvh 3 · 0⤊ 0⤋
Some employers offer the 401k and actually match a certain percentage of what you put into it. I'm 22 and I put in $75 each week and the match I get is really good. You might want to check from your employer, but the sooner the better. You should also know that later on we might not have social security to help us for our retirement and it's a very good idea to have a backup plan.
2007-02-13 07:52:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I always put the maximum amount I could into my retirement funds. Now I am living off of them. There is enough that I can live off of what they earn and they continue to increase in value in the mean time. I retired at age 56 as a result. And now I can go birding where and when I desire for as long as I desire. Next trip is to Ecuador for a month.
2007-02-13 08:32:59 · answer #3 · answered by Anonymous · 2⤊ 0⤋
I have a 401K at about $4600 a year for the past 11 years and I'm 37. It's worth about $88,000 now. I have a Roth that I put in $8000 in the past 3 fiscal years (April 15) and it's up $600.
2007-02-13 09:19:01 · answer #4 · answered by gregory_dittman 7 · 0⤊ 0⤋
Am dealing with "Federated Investors" through a local agent,
invested 50k lump sum and thus far have withdrawn 4k in
earnings (started with my retirement 6/15/06)---- had very bad
luck with an investment with Putnam a few years back.
2007-02-13 07:42:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I am 32 and just starting mine. I am opening an IRA and a Mutual Fund. I really wished that I had started it years earlier.
Start as soon as you can. Even starting with $100 is better than nothing. I should have listened to my own advice. I am really beginning to panic.
2007-02-13 07:38:49 · answer #6 · answered by Should be Working! 4 · 1⤊ 0⤋
Listen to the GVH answer on this site. He is correct about those choices and the final results.
2007-02-13 17:16:00 · answer #7 · answered by Brick 5 · 0⤊ 0⤋